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Fortunately for the economy, World War II soon led to unprecedented spending and deficits, which the Federal Reserve willingly financed with easy money. Federal spending rose to 44 percent of G.D.P. in 1943 and 1944 from 9.8 percent in 1940, and the budget deficit went from 3 percent to 30 percent of G.D.P.

I’ve been reading a lot of books and articles recently that make their point through academic studies that base their results on tests or polls done with the subects taken from academia–that is, college students. True of both liberal and conservative sociological/political studies.

But the human brain is not fully developted until about the age of 25. That is, the prefrontal cortex, where reasoned judgement is performed, is immature until well into the middle of the third decade.

It’s wierd. Oil prices go down, so gas prices go down, so the public thinks, Great! We’re rich! and it’s better for Obama’s chances of re-election, when actually oil prices are down because the economy (around the world) is tanking, and we’re the opposite of rich and not great at all.